Kamala Harris' presidential campaign breaks fundraising records with $310 million

Vice President Kamala Harris' presidential campaign has announced a record $310 million in fundraising for the month of July, more than double the amount raised by her Republican counterpart. This major fundraiser, of which more than $200 million was raised in the first week of his candidacy, marks a transformative shift in financial support for the Democratic ticket. Most of those donations came from first-time contributors, indicating a surge in new support for Harris.

The announcement of President Joe Biden's decision not to seek re-election on July 21, and his subsequent endorsement of Harris, led to a rapid consolidation of support for her within the party. That marked a turnaround from earlier concerns about Biden's viability as a candidate, which had caused hesitation among Democratic donors.

In contrast, former President Donald Trump's campaign raised $138.7 million in July, despite a strong fundraising month for him that included his acceptance of the Republican nomination and the announcement of his running mate, Ohio Senator JD Vance.

The increase in donations to Harris' campaign has pushed the Democratic fundraiser past $1 billion, a record achievement. The campaign has described July as the “best fundraising month in presidential history,” with 94% of donations under $200.

The campaign also noticed significant demographic trends in its July donations. There was a tenfold increase in Gen Z donors and an eightfold increase in millennial donors compared to June. In addition, 60% of donors were women.

Despite impressive fundraising efforts, the challenge for Harris' campaign will be to maintain that momentum. While the initial surge in donations is unprecedented, the campaign will need to convince donors to continue their financial support through the fall, traditionally the peak fundraising period.

Funds raised by Harris' campaign will be used to support his extensive campaign infrastructure, which includes more than 260 coordinated campaign offices and more than 1,400 staffers in key battleground states. This financial support is crucial to ensure the campaign's ability to win upcoming elections.